Flinks Enters the Business Lending Space

Our financial API now powers Merchant Advance Capital, enabling a simplified experience for small business owners applying for a loan.

Flinks and Merchant Advance Capital are excited to announce better online lending for Canadian small business owners. By connecting Merchant Advance to Canadian banks, Flinks allows business loan applicants to instantly provide their banking information for a faster loan approval.

Speaking about the partnership, Dave Gens, CEO and Founder of Merchant Advance Capital, said: “We’re responding to a demand for quicker access to capital among Canada’s SMB owners. When selecting a partner, we felt Flinks shared our goal to improve financing options for underbanked SMBs across Canada, thereby helping this part of the economy grow.”

He continued: “We want to help small businesses realize their potential through smart funding solutions, and this partnership puts the timeframe for receiving money almost entirely in the hands of our customers.”

Merchant Advance, one of Canada’s fastest growing business lender, bases its lending decisions in large part on their clients’ volume of debit and credit card transactions. By adding a new, rich data source with Flinks financial API, Merchant Advance is now able to offer an even more innovative lending solution to its clients.

Yves-Gabriel Leboeuf, CEO of Flinks, said: “we’re happy to open up banking data for Merchant Advance Capital. The fit between the two companies couldn’t be better, as we share a common mission: increasing accessibility for superior financial products.”

Specifically, Flinks developer-friendly API enables online personal, business and car lenders to access three sets of data:
    – KYC information, including name, address, email, and phone number
    – Account verification: institution, transit and account number
    – 12 months of bank account transaction history
This automation means less manual work for both the one applying for a loan, and the company making a decision on the application.

Are you still using micro-deposits, or requesting manual document uploads from your users? Automate your solution using Flinks Financial API.

ABOUT
Flinks developed the most reliable financial API on the Canadian market. Covering 98% of the country’s banks and credit unions, Flinks is the leader in financial data access in Canada.

Merchant Advance Capital is one of Canada’s leading online lenders on a mission to help small and medium-sized businesses grow. They leverage technology and data science to reduce risk and provide more control, lower fees and flexible repayment schedules. Merchant Advance Capital was founded in 2010 and has now grown to include offices in Toronto and Vancouver and serves clients Canada-wide.

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